Boulangerie de France
ActiveSummary
Boulangerie de France has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €20.35M and a net result of €312k. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 75% of 862 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▼-2
Solvency82▲+4
Growth82▼-3
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.45M at 30 days acceptable
Liquidity ample (current ratio 3.19 against 2.81 in 2023; short-term debt: 12.3% and cash: 3.6% of total assets), and 42.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
57.4%
Return on assets
0.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
30 d early
2022
32 d early
2021
30 d early
2020
47 d early
2019
36 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€36.06M▲ 0.7%
2023 · €35.82M
2018: €13.93Mlowest in 7 years
2019: €18.65M▲ +33.9% vs 2018
2020: €16.05M▼ -13.9% vs 2019
2021: €17.82M▲ +11.0% vs 2020
2022: €27.56M▲ +54.7% vs 2021
2023: €35.82M▲ +30.0% vs 2022
2024: €36.06M▲ +0.7% vs 2023highest in 7 years
2018 → 2024
EBIT margin
1.8%▼ 0.5pp
2023 · 2.2%
2018: 2.3%
2019: 11.3%▲ +397% vs 2018highest in 7 years
2020: 5.3%▼ -53.3% vs 2019
2021: -7.5%▼ -242% vs 2020lowest in 7 years
2022: -1.9%▲ +74.8% vs 2021
2023: 2.2%▲ +219% vs 2022
2024: 1.8%▼ -20.9% vs 2023
2018 → 2024
Net result
€312k▼ 58.3%
2023 · €747k
2018: €150k
2019: €2.16M▲ +1341% vs 2018highest in 7 years
2020: €897k▼ -58.5% vs 2019
2021: €-1.02M▼ -213% vs 2020lowest in 7 years
2022: €-569k▲ +44.0% vs 2021
2023: €747k▲ +231% vs 2022
2024: €312k▼ -58.3% vs 2023
2018 → 2024
Working capital
€9.53M▲ 8.4%
2023 · €8.79M
2018: €1.84M
2019: €5.71M▲ +210% vs 2018
2020: €1.31M▼ -77.1% vs 2019
2021: €-10.84M▼ -927% vs 2020lowest in 7 years
2022: €6.94M▲ +164% vs 2021
2023: €8.79M▲ +26.7% vs 2022
2024: €9.53M▲ +8.4% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€16.05M-€17.82M▲ 11.0%€27.56M▲ 54.7%€35.82M▲ 30.0%€36.06M▲ 0.7%
2020: €16.05Mlowest in 5 years
2021: €17.82M▲ +11.0% vs 2020
2022: €27.56M▲ +54.7% vs 2021
2023: €35.82M▲ +30.0% vs 2022
2024: €36.06M▲ +0.7% vs 2023highest in 5 years
Equity€20.85M-€20.22M▼ 3.0%€19.52M▼ 3.5%€20.13M▲ 3.2%€20.35M▲ 1.1%
2020: €20.85Mhighest in 5 years
2021: €20.22M▼ -3.0% vs 2020
2022: €19.52M▼ -3.5% vs 2021lowest in 5 years
2023: €20.13M▲ +3.2% vs 2022
2024: €20.35M▲ +1.1% vs 2023
Operating result€844k-€-1.33M€-520k▲ 61.0%€802k€639k▼ 20.3%
2020: €844khighest in 5 years
2021: €-1.33M▼ -258% vs 2020lowest in 5 years
2022: €-520k▲ +61.0% vs 2021
2023: €802k▲ +254% vs 2022
2024: €639k▼ -20.3% vs 2023
Net result€897k-€-1.02M€-569k▲ 44.0%€747k€312k▼ 58.3%
2020: €897khighest in 5 years
2021: €-1.02M▼ -213% vs 2020lowest in 5 years
2022: €-569k▲ +44.0% vs 2021
2023: €747k▲ +231% vs 2022
2024: €312k▼ -58.3% vs 2023
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 20% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €35.44M
Fixed assets
€21.56M ▼ 12.0%
Current assets
€13.87M ▲ 1.7%
Equity and liabilities €35.44M
Equity
€20.35M ▲ 1.1%
Debt
€15.09M ▼ 16.2%
Debt's share of the balance-sheet total falls from 47.2% to 42.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5.11M▼
2023 · €5.43M
Cash flow
€4.78M▼
2023 · €5.38M
Current ratio
3.19▲
2023 · 2.81
Quick ratio
2.65▲
2023 · 2.26
Debt to equity
0.74▼
2023 · 0.90
ROE
1.5%▼
2023 · 3.7%
ROA
0.9%▼
2023 · 2.0%
Interest coverage
12.10▼
2023 · 29.31
Debt ≤ 1 year
€4.35M▼
2023 · €4.85M
Debt > 1 year
€10.32M▼
2023 · €12.99M
Income taxes
€2k▲
2023 · €1k
Staff costs
€4.69M▲
2023 · €3.71M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 69 lines
Balance sheet
Code20232024
Assets
Total assets20/58€38.15M€35.44M▼
Fixed assets21/28€24.51M€21.56M▼
Intangible fixed assets21€169k€177k▲
Tangible fixed assets22/27€24.34M€21.38M▼
Plant, machinery and equipment23€23.78M€20.86M▼
Furniture and vehicles24€46k€30k▼
Other tangible fixed assets26€512k€494k▼
Financial fixed assets28€6k€6k=
Other financial fixed assets284/8€6k€6k=
Amounts receivable and cash guarantees285/8€6k€6k=
Current assets29/58€13.64M€13.87M▲
Stocks and contracts in progress3€2.67M€2.36M▼
Stocks30/36€2.67M€2.36M▼
Raw materials and consumables30/31€1.03M€934k▼
Work in progress32€1k€4k▲
Finished goods33€1.65M€1.43M▼
Amounts receivable within one year40/41€9.14M€10.11M▲
Trade receivables40€6.14M€7.09M▲
Other amounts receivable41€3.00M€3.02M▲
Cash at bank and in hand54/58€1.80M€1.28M▼
Deferred charges and accrued income490/1€19k€116k▲
Equity and liabilities
Total equity and liabilities10/49€38.15M€35.44M▼
Equity10/15€20.13M€20.35M▲
Contributions10/11€21.25M€21.25M=
Capital10€21.25M€21.25M=
Issued capital100€21.25M€21.25M=
Profit (loss) carried forward14€-1.42M€-1.11M▲
Investment grants15€301k€203k▼
Amounts payable17/49€18.02M€15.09M▼
Amounts payable after more than one year17€12.99M€10.32M▼
Financial debts170/4€12.99M€10.32M▼
Other loans174€12.99M€10.32M▼
Amounts payable within one year42/48€4.85M€4.35M▼
Trade debts44€4.30M€3.68M▼
Suppliers440/4€4.30M€3.68M▼
Taxes, remuneration and social security45€544k€667k▲
Taxes450/3€72k€90k▲
Remuneration and social security454/9€472k€577k▲
Accrued charges and deferred income492/3€185k€422k▲
Income statement
Code20232024
Operating income70/76A€36.49M€36.13M▼
Turnover70€35.82M€36.06M▲
Change in stocks of work in progress, finished goods and contracts in progress71€196k€-219k▼
Other operating income74€478k€291k▼
Non-recurring operating income76A€18€0▼
Operating charges60/66A€35.69M€35.49M▼
Goods for resale, raw materials and consumables60€17.25M€16.07M▼
Purchases600/8€17.26M€15.97M▼
Change in stocks: decrease (increase)609€-11k€91k▲
Services and other goods61€9.98M€10.15M▲
Remuneration, social security and pensions62€3.71M€4.69M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4.63M€4.47M▼
Other operating charges640/8€122k€119k▼
Operating profit (loss)9901€802k€639k▼
Financial income75/76B€132k€98k▼
Recurring financial income75€132k€98k▼
Other financial income752/9€132k€98k▼
Financial charges65/66B€186k€423k▲
Recurring financial charges65€186k€423k▲
Debt charges650€185k€422k▲
Other financial charges652/9€516€804▲
Profit (loss) for the period before taxes9903€748k€313k▼
Income taxes67/77€1k€2k▲
Taxes670/3€2k€2k▲
Tax adjustments and reversals of tax provisions77€564€0▼
Profit (loss) for the period9904€747k€312k▼
Profit (loss) for the period to be appropriated9905€747k€312k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.42M€-1.11M▲
Profit (loss) brought forward from the previous period14P€-2.17M€-1.42M▲
Social balance
Average headcount (FTE)908757.368.7▲
The notes to these accounts (58 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €18.18M | €28.60M | €36.49M | €36.13M | ▼ 1.0% |
| Turnover70 | €16.05M | €17.82M | €27.56M | €35.82M | €36.06M | ▲ 0.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €256k | €878k | €196k | €-219k | ▼ 212% |
| Other operating income74 | - | €110k | €111k | €478k | €291k | ▼ 39.2% |
| Non-recurring operating income76A | - | €296 | €49k | €18 | €0 | ▼ 100% |
| Operating charges60/66A | - | €19.51M | €29.12M | €35.69M | €35.49M | ▼ 0.6% |
| Goods for resale, raw materials and consumables60 | - | €9.13M | €12.75M | €17.25M | €16.07M | ▼ 6.9% |
| Purchases600/8 | - | €9.53M | €12.99M | €17.26M | €15.97M | ▼ 7.4% |
| Change in stocks: decrease (increase)609 | - | €-397k | €-243k | €-11k | €91k | ▲ 906% |
| Services and other goods61 | - | €5.38M | €8.76M | €9.98M | €10.15M | ▲ 1.7% |
| Remuneration, social security and pensions62 | - | €2.34M | €3.05M | €3.71M | €4.69M | ▲ 26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.20M | €2.61M | €4.46M | €4.63M | €4.47M | ▼ 3.5% |
| Other operating charges640/8 | - | €55k | €110k | €122k | €119k | ▼ 2.1% |
| Operating profit (loss)9901 | €844k | €-1.33M | €-520k | €802k | €639k | ▼ 20.3% |
| Financial income75/76B | - | €429k | €132k | €132k | €98k | ▼ 26.1% |
| Recurring financial income75 | €55k | €429k | €132k | €132k | €98k | ▼ 26.1% |
| Other financial income752/9 | - | €429k | €132k | €132k | €98k | ▼ 26.1% |
| Financial charges65/66B | - | €112k | €179k | €186k | €423k | ▲ 128% |
| Recurring financial charges65 | €2k | €112k | €179k | €186k | €423k | ▲ 128% |
| Debt charges650 | €1k | €112k | €179k | €185k | €422k | ▲ 128% |
| Other financial charges652/9 | - | €835 | €514 | €516 | €804 | ▲ 55.9% |
| Profit (loss) for the period before taxes9903 | €897k | €-1.01M | €-567k | €748k | €313k | ▼ 58.1% |
| Income taxes67/77 | €432 | €839 | €2k | €1k | €2k | ▲ 54.3% |
| Taxes670/3 | - | €839 | €2k | €2k | €2k | ▲ 2.3% |
| Tax adjustments and reversals of tax provisions77 | - | €0 | €114 | €564 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €897k | €-1.02M | €-569k | €747k | €312k | ▼ 58.3% |
| Profit (loss) for the period to be appropriated9905 | €897k | €-1.02M | €-569k | €747k | €312k | ▼ 58.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26.96M | €36.26M | €38.85M | €38.15M | €35.44M | ▼ 7.1% |
| Fixed assets21/28 | €19.54M | €31.17M | €27.85M | €24.51M | €21.56M | ▼ 12.0% |
| Intangible fixed assets21 | €64k | €252k | €224k | €169k | €177k | ▲ 5.2% |
| Tangible fixed assets22/27 | €19.47M | €30.91M | €27.62M | €24.34M | €21.38M | ▼ 12.2% |
| Plant, machinery and equipment23 | - | €30.29M | €27.05M | €23.78M | €20.86M | ▼ 12.3% |
| Furniture and vehicles24 | - | €62k | €48k | €46k | €30k | ▼ 35.3% |
| Other tangible fixed assets26 | - | €567k | €530k | €512k | €494k | ▼ 3.5% |
| Assets under construction and advance payments27 | - | €0 | - | - | - | - |
| Financial fixed assets28 | €6k | €6k | €6k | €6k | €6k | = |
| Other financial fixed assets284/8 | - | €6k | €6k | €6k | €6k | = |
| Amounts receivable and cash guarantees285/8 | - | €6k | €6k | €6k | €6k | = |
| Current assets29/58 | €7.41M | €5.09M | €10.99M | €13.64M | €13.87M | ▲ 1.7% |
| Stocks and contracts in progress3 | €691k | €1.34M | €2.47M | €2.67M | €2.36M | ▼ 11.6% |
| Stocks30/36 | - | €1.34M | €2.47M | €2.67M | €2.36M | ▼ 11.6% |
| Raw materials and consumables30/31 | - | €771k | €1.01M | €1.03M | €934k | ▼ 9.0% |
| Work in progress32 | - | - | €2k | €1k | €4k | ▲ 201% |
| Finished goods33 | - | €573k | €1.45M | €1.65M | €1.43M | ▼ 13.4% |
| Amounts receivable within one year40/41 | €6.16M | €3.49M | €7.87M | €9.14M | €10.11M | ▲ 10.6% |
| Trade receivables40 | - | €3.49M | €7.84M | €6.14M | €7.09M | ▲ 15.5% |
| Other amounts receivable41 | - | €0 | €28k | €3.00M | €3.02M | ▲ 0.5% |
| Cash at bank and in hand54/58 | €379k | €105k | €361k | €1.80M | €1.28M | ▼ 28.8% |
| Deferred charges and accrued income490/1 | - | €153k | €298k | €19k | €116k | ▲ 521% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26.96M | €36.26M | €38.85M | €38.15M | €35.44M | ▼ 7.1% |
| Equity10/15 | €20.85M | €20.22M | €19.52M | €20.13M | €20.35M | ▲ 1.1% |
| Contributions10/11 | €21.25M | €21.25M | €21.25M | €21.25M | €21.25M | = |
| Capital10 | - | €21.25M | €21.25M | €21.25M | €21.25M | = |
| Issued capital100 | - | €21.25M | €21.25M | €21.25M | €21.25M | = |
| Profit (loss) carried forward14 | €-582k | €-1.60M | €-2.17M | €-1.42M | €-1.11M | ▲ 22.0% |
| Investment grants15 | - | €566k | €433k | €301k | €203k | ▼ 32.5% |
| Amounts payable17/49 | €6.11M | €16.04M | €19.33M | €18.02M | €15.09M | ▼ 16.2% |
| Amounts payable after more than one year17 | - | - | €14.99M | €12.99M | €10.32M | ▼ 20.5% |
| Financial debts170/4 | - | - | €14.99M | €12.99M | €10.32M | ▼ 20.5% |
| Other loans174 | - | - | €14.99M | €12.99M | €10.32M | ▼ 20.5% |
| Amounts payable within one year42/48 | €6.10M | €15.93M | €4.05M | €4.85M | €4.35M | ▼ 10.3% |
| Trade debts44 | €5.65M | €2.87M | €3.56M | €4.30M | €3.68M | ▼ 14.5% |
| Suppliers440/4 | - | €2.87M | €3.56M | €4.30M | €3.68M | ▼ 14.5% |
| Taxes, remuneration and social security45 | - | €390k | €494k | €544k | €667k | ▲ 22.5% |
| Taxes450/3 | - | €55k | €56k | €72k | €90k | ▲ 24.0% |
| Remuneration and social security454/9 | - | €334k | €438k | €472k | €577k | ▲ 22.2% |
| Other amounts payable47/48 | - | €12.67M | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | €113k | €291k | €185k | €422k | ▲ 128% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €897k | €-1.02M | €-569k | €747k | €312k | ▼ 58.3% |
| + Depreciation and write-downs630 | €2.20M | €2.61M | €4.46M | €4.63M | €4.47M | ▼ 3.5% |
| Operating cash flow (approximation) | €3.10M | €1.59M | €3.89M | €5.38M | €4.78M | ▼ 11.1% |
| Investment in fixed assets (approximation) | - | €-14.23M | €-1.14M | €-1.29M | €-1.52M | ▼ 18.0% |
| Change in cash | - | €-274k | €255k | €1.44M | €-519k | ▼ 136% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €747k
Net result €747k after 2 loss-making years.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity times 8current ratio 2.71
Current ratio from 0.32 to 2.71; short-term debt falls from €15.93M to €4.05M.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €-1.02M
Net result drops to €-1.02M, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €2.16M ▲1,341%
Operating result €2.10M, net result €2.16M, both a record.
17-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
17-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 23 acts read
About the unread acts
We know of 23 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
23 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Erpe-Mere · 1 establishment unit since 2015
Ground area
5,679 m²
Building footprint
1,420 m²
Volume, LiDAR
5,976 m³
Parcel 41040A0080/00D000, Flanders · tallest building 5.7 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Boulangerie de France
since 20152.242.444.614
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41040A0080/00D000 | Flanders | 5,679 m² | 1 · 1,420 m² | 5.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Ownership & control
2 parent companiesControl over this companyparent company per the LEI register2
Erpe-Mere · LEI lapsed
Erpe-Mere · indirect · LEI lapsed
controls
Boulangerie de FranceBE 0630.761.603
Recognitions · licences · registrations
Food safety, FASFC
1 siteMouscron/Moeskroen2.242.444.614
Legal Entity Identifier
549300KX4SUULR2BUJ63
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Of 512 companies in sector 10711 we hold annual accounts for 329. 45 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-05-2015
Fiscal year end31-12
Activities, NACEBEL 2025
10711Manufacture of food products
Scores and ratios are computed by Checked and are not a credit decision.